As of August 29, 2024, the Indian rupee appreciated by 10 paise, closing at 83.87 against the US dollar, bolstered by declining crude oil prices and a robust domestic equity market. The S&P BSE Sensex hit a new all-time high of 82,285.83 before settling up by 349.05 points, or 0.43%, at 82,134.61. Market participants are closely monitoring upcoming US GDP and Personal Consumption Expenditure (PCE) inflation data, as these indicators could influence the Federal Reserve’s decision to either cut rates by 25 or 50 basis points in their September meeting. The rupee began the day at 83.92 and reached an intra-day peak of 83.84 against the US dollar.
This summary has been prepared by Capital Market – Live News. No Business Standard journalist contributed to the creation of this content.
Original Story https://www.business-standard.com/markets/capital-market-news/firm-local-equities-push-inr-higher-124082900862_1.html
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